so help me out on this one

On the 11 + mil. share placement for $2.6 + Mil back in dec it says:

An insider has participated in the Private Placement and pursuant to Regulation 61-101 respecting protection of minority security holders in special transactions, ("Regulation 61-101"), such a purchase constitutes a "related party transaction"

So if an insider purchaced some or all 11 mil. shares who was it? and why were they not granted "options" as most directors and inside people get.

I bought 200K on this news expecting that if someone did thier DD and was willing to pay .24 per sh then they should be worth .21